I'll try to keep this post short and meaty. Regarding Wraithblades, in short, I do not like them.
In all seriousness though, I've done my best, I want to like them. I love the models, so much so that I bought the kit without ever having taken a unit to the tabletop. I never do that!
I resisted writing this article, because I wanted to like them so badly, I've put them in list after list, trying to make them work.
Their statline looks impressive, boasting T6, S5, a 3+ save and Fearless on top of a Space Marine's Initiative and Weapon Skill. Also, their weapons can be either +1 Strength, +1 Attack, AP3 or +2 Strength, AP2, Unwieldly, with a 4++ Invulnerable save.
Now, like I said, it looks decent at least. But then comes the bad: No gun whatsoever, they're very expensive (40 pts/model for the Axes), they're smacked down by the equivalent of every other army, and - worst of all - they're slow as molasses with no viable delivery method.
That can change, now, with the new Dark Eldar Raider becoming Fast Attack, you *could* put Wraithblades into a Raider that comes with DE Allies.
The problem you wind up with is a nasty choice: Do you take the higher volume of attacks at higher initiative (Swords) or the higher strength attack with an Invulnerable save (Axes)?
The lack of an Invulnerable save makes Swordguard too fragile to be decent bodyguards for a high-priority target like Eldrad, and the piddly number of attacks and Unwieldly gives the Axeguard a huge disadvantage against anything but a small MEQ (Marine Equivalent) unit in CC. And there are better ways to deal with MEQs.
I like the idea of making a Terminator equivalent, with Fearless and T6 rather than the 2+ save and 3++, but Wraithblades are no Terminators. T6 isn't *that* tough (ask a Carnifex) and a 3+/4++ just doesn't cut it on a 40 point, one-wound model.
I would love to be proven wrong. Have any of you had great luck with Wraithblades?